Health Insurance is a major concern for many people. As health insurance has evolved, the smart shopper is switching from a traditional co-pay plan to a high deductible plan. With a qualified High Deductible Health Plan (HDHP) there are options now available for the consumer.

By establishing a HDHP individuals or families can deposit funds tax-free into a special Health Savings Account. Annual contributions reduce taxable income and grow tax-deferred until the age of 65. These funds can be spent tax-free on almost any medical expense. This would include medical items not necessarily covered by the insurance such as orthodontics to eyeglasses.

The funds in the HSA roll over every year so this is not a use it or lose it situation. It is the same thing as an IRA. As far as the actual HSA account you use there are several institutions offering various terms and interest rates.  We have an extensive list of financial institutions that offer the HSA bank account.

At Jaikes Financial Group we help you find the most competitive insurance premiums with the finest companies available for your HDHP. Typically you can have any company you prefer that offers the HDHP and deposit your funds in any institution that offers the HSA.